Europe’s financial authorities are strengthening the oversight of the energy derivative trades used by energy firms to hedge power and gas prices as policymakers look to avoid a spillover effect of the energy crisis into financial markets. In the energy derivative market, worth trillions of euros, energy firms faced more than a trillion euros in margin calls in September, a…
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The Federal Board of Revenue (FBR) may propose new taxation measures including the possibility of taxing banking profits in case it is unable to achieve the assigned revenue collection target of Rs536.53 billion in November 2022. Sources told Business Recorder here on Sunday that the government has no intention o take new taxation measures in near future. However, some proposals…
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The Auditor General of Pakistan (AGP) has detected losses to the tune of Rs 1191.28 million in various heads in the accounts of Khyber Pakhtunkhwa Revenue Authority (KPRA) during financial year 2018-19 and directed their recovery, said Audit Report on the accounts of Revenue Receipts of the government of Khyber Pakhtunkhwa. The audit report has already been presented in the…
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The business community, while hailing decision of natural gas rationing for domestic consumers, urged the government to make this wisdom based verdict a permanent feature throughout the year. They said that fifty percent of total gas in Pakistan is consumed by a household which is one of major hindrance in economic growth of country. A delegation of industrialists and traders…
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The United States cannot stopPakistan from purchasing Russian oil and it will bepossible to do so soon, Pakistan Finance Minister Ishaq Dar He made these remarks while addressing the Pakistan Muslim League -Nawaz (PML-N) workers in Dubai, The Express Tribune newspaper reported. Dar, during his visit to the US last month, had a meeting with the officials of the US…
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ISLAMABAD: State-owned Pakistan State Oil’s (PSO) liquidity crisis has swooped to an all-time high with an unprecedented hike in its receivables to Rs621.168 billion and payables to Rs268.5 billion, The News reported Monday. The situation has resulted in the company being unable to offload its liabilities with regard to letters of credit (LCs) amounting to Rs218.5 billion for the import of furnace…
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Southern Gas Company Limited (SSGC) has halted the supply of gas to industries across Karachi till February 28, 2023. “In adherence to the Ministry of Energy (Petroleum Division) gas load management plan, that places domestic and commercial customers on top of the priority list, it has been decided to suspend gas supply to all general industries from November 15 to…
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November 2022
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Sindh Governor, Kamran Khan Tessori, has said the government will do its best to help out the non-governmental organizations working to improve environmental conditions in the country through an increase in tree cover. The Sindh Governor expressed his resolve to this effect on behalf of the government as he met a delegation of the National Forum for Environment and Health…
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The National Electric Power Regulatory Authority (Nepra) on Friday decided to slash power tariff by Rs5.12 per unit for K-Electric (KE) consumers on account of fuel cost adjustment (FCA) for September 2022. In its petition filed with Nepra, KE had requested a tariff reduction of Rs4.622 per kilowatt-hour (kWh). The regulator conducted a public hearing on October 25, 2022 and…
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